ATLANTA—LendingPoint, a nonbank direct lender offering consumer installment loans, said it has successfully launched its consumer lending platform in under 90 days. “Leveraging emerging cloud-based technologies, LendingPoint's online loan platform has experienced zero downtime since its December, 2014 launch,” the company said. “The successful launch of the LendingPoint platform delivers an important new short-term financing option for previously underserved, qualified consumers.”
"There is a paradigm shift happening in the lending ecosystem, and traditional lenders are slow to respond – this is where LendingPoint's differences truly matter," said Franck Fatras, CTO of LendingPoint. By creating new multidimensional underwriting models and applying quicker ways to evaluate and understand risk, we can offer consumers loans at competitive rates and terms, faster. Today's borrower is both mobile and informed, and our cloud-based systems are designed to cater to their needs. That we did it all in under 90 days is a direct testament to the experience of our team, our methodologies and technologies, and the power of our partnerships."
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